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South Korea's central bank vows to stabilise markets amid political turmoil


Published on 2024-12-15 03:20:52 - Business Times
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  • SOUTH Korea's central bank vowed to stabilise financial markets and highlighted the importance of "uninterrupted implementation" of key fiscal and economic measures, in its first statement since lawmakers voted to impeach President Yoon Suk-yeol.

The Bank of Korea (BOK) has pledged to take necessary actions to stabilize financial markets amidst the political turmoil following the impeachment of President Park Geun-hye. This assurance comes as the country faces potential economic uncertainty due to the political crisis. The BOK's statement aims to reassure investors and the public that it will monitor market conditions closely and intervene if necessary to maintain economic stability. The central bank's focus is on preventing any adverse effects on the financial system, which could arise from the political instability. This includes managing liquidity and ensuring that financial institutions remain robust against any potential market volatility.

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[ https://www.businesstimes.com.sg/companies-markets/banking-finance/south-koreas-central-bank-vows-stabilise-markets-amid-political-turmoil ]